Hi everyone, I'm not sure how to get the rate change factor to 2012 from the starting ULR and the earned rate change to next year. Would anyone be able to provide some help on this? Also how do we obtain the earned rate change to next year if we don't assume that the returns are based on UY data? Lastly on the inflation to be applied, are the numbers in the 'inflation to 2012' row just a changing assumption of 5% to 10% inflation across the years? Thanks in advance for your help and any comments will be appreciated!
Have a look at previous posts for this question Laura. Does this help? Calculation of AY ULR estimate - September 2013 Q8iii | Actuarial Education (acted.co.uk) Or this one? september 2013 question 8iii | Actuarial Education (acted.co.uk)